Robinhood’s Q2 Revenue Hits Record $1.31B as Prediction Markets Fuel 10x Surge in Event Contracts

Robinhood generated $156 million from event contracts in a dramatic jump from the same quarter last year. Robinhood posted record second-quarter net revenue of $1.31 billion, up 32% year-over-year, as activity across prediction markets, options, and equities helped offset a sharp decline in crypto income. The company’s transaction-based revenue jumped 44% to $776 million during the quarter. Event contracts emerged as one of its fastest-growing businesses. In fact, revenue from event contracts reached $156 million, more than 10 times higher than a year earlier. The number of contracts traded also surged more than 10x to a record 13.6 billion. Prediction Markets Steal the Spotlight Speaking about the growth of prediction markets, Chairman and CEO Vlad Tenev said that the space has grown steadily since March and expects the momentum to continue. Robinhood launched Rothera, a CFTC-licensed exchange and clearinghouse, in June through its joint venture with Susquehanna International Group. The company said more than 3.5 billion event contracts had been traded to date. Meanwhile, options remained another major contributor, generating $342 million in revenue. This figure was up by 29% year...